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Fed’s Powell says SVB collapse may slow the economy through tighter credit
Federal Reserve Board Chair Jerome Powell speaks through a news conference at the Federal Reserve in Washington, DC, on March 22, 2023. Olivier Douliery | AFP | Getty Pictures Federal Reserve Chair Jerome Powell reported Wednesday that the U.S. banking sector is powerful but that the current failure of some regional financial institutions could cause ripple effects that gradual down the financial state. At a press meeting right after the most recent Federal Open Marketplaces Committee meeting, Powell described the banking technique as “audio and resilient” but said the central bank was monitoring a improve in the availability of credit score for customers and organizations. “Monetary problems appear to have…